We should ask ourselves, why is it that there is an age restriction on drinking?
The answer is, because we believe people younger than that age are not capable of good judgement and making good decisions.
Why then is the penalty for, "breaking the law", so much stiffer for a person we deem not yet capable of good judgement than it is for an adult we deem fully capable. You aren't going to lose your job for DUI. You aren't going to have your drivers license forfieted for life for DUI.
The argument that, "they signed an agreement, therefore they knew the risk", flies in the face of the previously stated, "they aren't old enough to be capable of good judgement", statement.
Which is it? We seem to want to hold these young people to an accountable standard we are afraid to hold ourselves (society) to, and that is patently unfair. Sports should not be a place where mythical standards and irrelevant lessons are applied. It should be reflective of the real world, so real world lessons can be learned.
Should there be punishment? Absolutely
Let's make the punishment appropriate to the offense.